BWX Technologies (BWXT) Receives New Coverage from Analysts at Wells Fargo & Co

Wells Fargo & Co assumed coverage on shares of BWX Technologies (NYSE:BWXT) in a research note released on Monday, December 11th, MarketBeat Ratings reports. The brokerage issued a market perform rating and a $65.00 price objective on the technology company’s stock.

BWXT has been the subject of several other reports. BidaskClub raised BWX Technologies from a buy rating to a strong-buy rating in a report on Thursday, October 26th. Bank of America lifted their price objective on BWX Technologies from $60.00 to $65.00 and gave the company a buy rating in a report on Thursday, October 5th. ValuEngine cut BWX Technologies from a buy rating to a hold rating in a report on Friday, December 1st. Zacks Investment Research cut BWX Technologies from a buy rating to a hold rating in a report on Thursday, November 9th. Finally, Robert W. Baird started coverage on BWX Technologies in a report on Tuesday, October 24th. They issued an outperform rating and a $70.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. BWX Technologies has an average rating of Hold and a consensus price target of $62.14.

BWX Technologies (BWXT) traded up $0.04 during trading hours on Monday, reaching $60.53. The company had a trading volume of 429,504 shares, compared to its average volume of 398,200. The firm has a market cap of $6,012.93, a PE ratio of 30.88, a P/E/G ratio of 2.61 and a beta of 0.47. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.81 and a current ratio of 1.81. BWX Technologies has a 1-year low of $39.03 and a 1-year high of $62.85.

BWX Technologies (NYSE:BWXT) last announced its quarterly earnings data on Monday, November 6th. The technology company reported $0.46 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. The firm had revenue of $419.36 million during the quarter, compared to analysts’ expectations of $420.39 million. BWX Technologies had a return on equity of 88.05% and a net margin of 11.89%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 EPS. equities research analysts predict that BWX Technologies will post 2.07 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 13th. Stockholders of record on Monday, November 20th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, November 17th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.73%. BWX Technologies’s dividend payout ratio (DPR) is currently 22.45%.

In other BWX Technologies news, CFO David S. Black sold 1,000 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $61.88, for a total value of $61,880.00. Following the sale, the chief financial officer now owns 62,979 shares in the company, valued at approximately $3,897,140.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman John A. Fees sold 21,453 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $60.21, for a total value of $1,291,685.13. Following the completion of the sale, the chairman now owns 87,919 shares in the company, valued at approximately $5,293,602.99. The disclosure for this sale can be found here. Insiders have sold a total of 24,453 shares of company stock valued at $1,472,495 in the last three months. 0.76% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new stake in shares of BWX Technologies during the 2nd quarter valued at about $145,836,000. Artisan Partners Limited Partnership boosted its position in shares of BWX Technologies by 210.9% during the 2nd quarter. Artisan Partners Limited Partnership now owns 4,100,416 shares of the technology company’s stock valued at $199,895,000 after purchasing an additional 2,781,599 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of BWX Technologies by 310.0% during the 2nd quarter. Wells Fargo & Company MN now owns 3,071,474 shares of the technology company’s stock valued at $149,735,000 after purchasing an additional 2,322,309 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of BWX Technologies by 4,067.9% during the 3rd quarter. Brown Advisory Inc. now owns 2,162,739 shares of the technology company’s stock valued at $121,157,000 after purchasing an additional 2,110,849 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of BWX Technologies by 659.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,047,954 shares of the technology company’s stock valued at $51,088,000 after purchasing an additional 910,054 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

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About BWX Technologies

BWX Technologies, Inc is a manufacturer of nuclear components and a service provider. The Company’s businesses focus on the design, engineering and manufacture of precision naval nuclear components, reactors and nuclear fuel for the United States Government. Its segments include Nuclear Operations, Technical Services, Nuclear Energy and Other.

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